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Fair Share

Competing Claims and Australia's Economic Future

Stephen Bell, Michael Keating

Now is the time for significant economic reform if Australia is to avoid becoming a country of winners and losers

Winners and losers: it's the brutal reality in most advanced economies. Increased inequality, economic stagnation and financial instability are the consequences of technological change, globalisation and the massive increase in financial systems. Governments struggle to deal with the unrest this creates and to resolve competing claims for the spoils of growth.

Australia's egalitarian traditions and past reforms have served the country well, but the risks of weakening demand, stagnating living standards and structural unemployment are growing and require urgent attention. Does Australia have the fiscal and political capacity to achieve a reform agenda?

Can the Australian political system manage these vital changes? Will voters support them? Fair Share ignites the necessary debate to instigate action.

Winners and losers: it's the brutal reality in most advanced economies. Increased inequality, economic stagnation and financial instability are the consequences of technological change, globalisation and the massive increase in financial systems. Governments struggle to deal with the unrest this creates and to resolve competing claims for the spoils of growth.

Australia's egalitarian traditions and past reforms have served the country well, but the risks of weakening demand, stagnating living standards and structural unemployment are growing and require urgent attention. Does Australia have the fiscal and political capacity to achieve a reform agenda?

Can the Australian political system manage these vital changes? Will voters support them? Fair Share ignites the necessary debate to instigate action.

“

There are big challenges and opportunities for the Australian economy and big ideas need to be pursued and debated. And Fair Share is a very good contribution to that debate.”

Chris Bowen MP

Featuring Keynote Address by Honourable Paul Keating

Stephen Bell

Stephen Bell is Professor of Political Economy at the University of Queensland and a fellow of the Academy of Social Sciences in Australia.

Michael Keating

Michael Keating is the former head of three Australian Government departments: Employment & Industrial Relations, Finance, and Prime Minister & Cabinet. He is a visiting fellow at the Australian National University and a fellow of the Academy of Social Sciences in Australia.

Fair Share in the media

With the debate about equality heating up ahead of the federal election, Dr Michael Keating, the former head of three federal government departments, warns that while past economic reforms have served Australia well, there’s a risk some people may be left behind if we don’t “change the debate”.

What is the economic future of Australia and how do we ensure that everyone gets their fare share? Dr Stephen Bell and Dr Michael Keating think there might be and that the conversation about revenue and spending should start now.

Rising inequality is a concern across the developed economies, including Australia where top earners’ pay has soared to a 17-year high while ordinary workers’ wage growth has been the lowest on record. And that’s ultimately bad news for economic growth.